Business
Acquisition of Finsch Diamond Mine - Update
Acquisition of Finsch Diamond Mine - Update.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 5268G Petra Diamonds Ld 13 May 2011 \n \n\n \n \n \n\n\n\n\nImmediate release\n\n\n13 May 2011\n\n\n\n\n \nPetra Diamonds Limited\n(\"Petra Diamonds\", \"Petra\", the \"Company\" or the \"Group\")\n \nAcquisition of Finsch Diamond Mine - Update \n \n \nPetra Diamonds announces the following update with regards to the acquisition of the Finsch diamond mine in South Africa (\"Finsch\") from De Beers Consolidated Mines Limited. \n \nAs announced on 21 January 2011, completion of the acquisition was subject to a number of conditions precedent, the majority of which have now been satisfied. The only remaining material conditions are the consent of the Minister of Mineral Resources to the cession of the mining right (including rehabilitation obligations) in respect of Finsch and registration of the ceded mining right in the South African Mineral and Petroleum Titles Registration Office. \n \nThe process with regards to satisfying the outstanding conditions is progressing well and the Company will provide an update in due course. \n \n \nFor further information, please contact:\n \n\n\n\n\nPetra Diamonds Ltd, London \n\n\nTelephone: +44 20 7318 0452\n\n\n\n\nCathy Malins \n\n\[email protected] \n\n\n\n\n \n\n\n\n\nBuchanan Communications\n(PR Adviser)\n\n\nTelephone: +44 20 7466 5000\n\n\n\n\nBobby Morse\nKatharine Sutton\n\n\[email protected]\[email protected]\n\n\n\n\n \n\n\n\n\nCanaccord Genuity Limited\n(NOMAD and Joint Broker)\n\n\nTelephone: +44 20 7050 6500\n\n\n\n\nRobert Finlay\n\n\[email protected] \n\n\n\n\nAndrew Chubb\n\n\[email protected]\n\n\n\n\n \n\n\n\n\nRBC Capital Markets\n(Joint Broker)\n\n\nTelephone: +44 20 7653 4000\n\n\n\n\nJoshua Critchley\n\n\[email protected]\n\n\n\n\nMartin Eales\n\n\[email protected] \n\n\n\n\n \n \n~ Ends ~\n \n\n\nAbout Petra Diamonds Limited\nPetra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market.\n \nThe Company offers an exceptional growth profile within the diamond sector, with a core objective to increase annual production to around 4 million carats by FY 2014 (including Finsch) and further increase output to over ...